# Sectoral Savings by Income Tercile

| Model | Dep Var | N | Countries | R² |
|---|---|---|---|---|
| low Z → savings | gross_national_savings_gdp | 1,306 | 60 | 0.196 |
| mid Z → savings | gross_national_savings_gdp | 1,416 | 67 | 0.101 |
| high Z → savings | gross_national_savings_gdp | 1,555 | 60 | 0.238 |
| low Z → govt_saving | govt_saving_gdp | 1,641 | 67 | 0.007 |
| mid Z → govt_saving | govt_saving_gdp | 1,690 | 78 | 0.057 |
| high Z → govt_saving | govt_saving_gdp | 1,743 | 67 | 0.112 |
| low Z → private_saving | private_saving_gdp | 1,209 | 58 | 0.175 |
| mid Z → private_saving | private_saving_gdp | 1,270 | 65 | 0.111 |
| high Z → private_saving | private_saving_gdp | 1,507 | 60 | 0.105 |

## Key Coefficients

| Model | Variable | Coef | SE | p-value | Sig |
|---|---|---|---|---|---|
| low Z → savings | Z_1 | 39.2576 | 37.7397 | 0.2984 |  |
| low Z → savings | Z_2 | -2.3113 | 5.9883 | 0.6996 |  |
| low Z → savings | Z_3 | -0.0087 | 0.2540 | 0.9726 |  |
| mid Z → savings | Z_1 | 56.6997 | 27.3762 | 0.0385 | ** |
| mid Z → savings | Z_2 | -8.1077 | 4.1020 | 0.0483 | ** |
| mid Z → savings | Z_3 | 0.3093 | 0.1681 | 0.0660 | * |
| high Z → savings | Z_1 | 110.1413 | 20.5576 | 0.0000 | *** |
| high Z → savings | Z_2 | -14.6699 | 2.9398 | 0.0000 | *** |
| high Z → savings | Z_3 | 0.5393 | 0.1160 | 0.0000 | *** |
| low Z → govt_saving | Z_1 | 31.4569 | 14.4339 | 0.0294 | ** |
| low Z → govt_saving | Z_2 | -5.3784 | 2.2894 | 0.0189 | ** |
| low Z → govt_saving | Z_3 | 0.2401 | 0.0971 | 0.0135 | ** |
| mid Z → govt_saving | Z_1 | 15.6702 | 9.9829 | 0.1167 |  |
| mid Z → govt_saving | Z_2 | -2.6553 | 1.4789 | 0.0728 | * |
| mid Z → govt_saving | Z_3 | 0.1165 | 0.0600 | 0.0525 | * |
| high Z → govt_saving | Z_1 | 61.7055 | 14.8182 | 0.0000 | *** |
| high Z → govt_saving | Z_2 | -8.7795 | 2.1231 | 0.0000 | *** |
| high Z → govt_saving | Z_3 | 0.3376 | 0.0839 | 0.0001 | *** |
| low Z → private_saving | Z_1 | 13.9864 | 42.6636 | 0.7431 |  |
| low Z → private_saving | Z_2 | 2.0900 | 6.7344 | 0.7563 |  |
| low Z → private_saving | Z_3 | -0.2018 | 0.2842 | 0.4777 |  |
| mid Z → private_saving | Z_1 | 15.3868 | 28.6488 | 0.5913 |  |
| mid Z → private_saving | Z_2 | -1.2240 | 4.2574 | 0.7738 |  |
| mid Z → private_saving | Z_3 | 0.0105 | 0.1736 | 0.9516 |  |
| high Z → private_saving | Z_1 | 76.1578 | 17.1270 | 0.0000 | *** |
| high Z → private_saving | Z_2 | -9.8608 | 2.4455 | 0.0001 | *** |
| high Z → private_saving | Z_3 | 0.3579 | 0.0964 | 0.0002 | *** |

*Income tercile decomposition*